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Maltese advisory firm executives charged over $75m client fraud

News Team, 01/09/2022

The Securities and Exchange Commission (SEC) has charged two executives and their Malta-based investment adviser firm - Standard Advisory Services - for defrauding clients out of more than $75 million.

According to the SEC’s complaint, from July 2017 through 2018, Gregory E. Lindberg and Christopher Herwig breached their fiduciary duties to their advisory clients by fraudulently causing them to engage in undisclosed related-party transactions that were not in the best interest...


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